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Description of AAR Standard Forms Updated February 2009 |
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AAR Brings You Standard Forms!
Below is a list of AAR’s forms accompanied by a short description. A sample of each of the forms can be found on AAR’s Web site, www.aaronline.com, search “forms”. Addendum- to be used to add additional terms to an existing contract or when there is not sufficient room on a purchase contract to include all the terms being offered. Is essentially blank lines. Rev. 6/93 Additional Clause Addendum – is a compilation of the most commonly used contract clauses. Agents can print out this form, check the box next to the clause that applies and attach to purchase contract. Rev. 2/07 Additional Compensation Agreement – is a form that can be used by an agent to disclose any additional compensation they may receive as a result of a transaction. This form will not be printed but is available on aaronline.com. Rev. 5/05 Appraisal Contingency Notice – if used with the Residential Resale Real Estate Purchase contract, this form allows the Buyer the opportunity to continue or not continue with the purchase of a home when the property fails to appraise for at least the purchase price. Rev. 5/05 AS IS Addendum – can be used to more accurately describe what the buyer and seller agree to when the property is sold “As Is”. Rev. 10/05 Assumption/Carryback Addendum – provides for financing in seller carrybacks and assumption transactions. Rev. 6/00 Buyer-Broker Exclusive Employment Agreement - is an agreement for the buyer and the broker/agent to sign that spells out the type of property the buyer is looking for and the form of compensation, if any, the agent is to receive from the buyer. Establishes an exclusive arrangement between the buyer and the agent similar to an exclusive listing agreement between a seller and a broker/agent. Rev. 6/03 Buyer Contingency Addendum - This is designed to be used when the Contract is to be contingent on the sale and closing of Buyer’s property. The Addendum has two options: one for the transaction in which Buyer’s property is listed for sale, but the Buyer has not yet entered into a contract for its sale, and another option for a transaction in which the Buyer has entered into a contract for the sale of the property, but the transaction has not yet closed. Rev. 10/05 Buyer Inspection Notice and Seller’s Response – is a form that directly addresses the inspection period in the Residential Purchase Contract. It provides for the buyer to respond to a home inspection whether it’s to request repairs, waive the inspection, or to cancel the contract. The form further provides for the seller to respond to any requests from the buyer. Rev. 8/07 Commercial Purchase Contract - to be used in commercial/industrial types of transactions. Includes provisions for financing. Rev. 5/03 Commercial Sellers Property Disclosure Statement - Similar to the Residential SPDS, designated for use with commercial/industrial sales. Rev. 2/08 Consent To Limited Representation - is signed by a specific buyer and a specific seller who are in a limited dual representation arrangement with a real estate agent/firm. It should not be used unless the property has been identified. This form is referenced in the Agency Disclosure and Election form. Rev. 12/02 Counter Offer - to be used to make counter offers to initial purchase offers. Rev. 5/96 Critical Date List – allows agents to track dates critical to the residential resale transaction. Rev. 3/05 Cure Period Notice – is a generic form to be used when a cure notice is required pursuant to the Residential Resale Real Estate Purchase or Vacant Land Purchase contract. Rev. 2/09 Disclosure of Buyer Agency and Seller’s Waiver and Confirmation – is designed for a Buyer Broker to present to a Seller who is represented by a limited service company. This disclosure will inform the Seller of the Buyer agent’s role in the transaction. Rev. 8/05 Domestic Water Well Addendum – is to be used to provide notice to the Buyer that the Buyer can expect to receive a Domestic Water Well/Use Addendum SPDS. Essentially, this language simply replaces language that used to be part of the Residential Purchase Contract. 5/05 Domestic Water Well/Water Use Addendum Sellers Property Disclosure Statement – is to be used in conjunction with the Seller's Property Disclosure Statement when property is served by a water well. Rev 3/02 H.O.A./Condominium/Planned Community Addendum – is a disclosure to the buyer about what HOA information the Buyer should receive, by Arizona law, and the time frames in which the buyer has to reply. Rev. 2/07 Lead-Based Paint Disclosure (Sales) - is to be used to meet requirements for lead-based paint disclosure for residential sales. Rev. 2/09 Lead-Based
Paint Disclosure (Rental) - is to be used to meet requirements
for lead-based paint disclosure for rental properties. Rev. 2/09 Unrepresented Seller Compensation Agreement – Agreement for brokers/agents representing buyers who want to purchase FSBOs (For Sale By Owner) and
when there isn’t a listing; provides for compensation for the seller to
the buyer’s broker/agent. Rev. 2/07 |
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